Zacks Investment Research lowered shares of Achaogen (NASDAQ:AKAO) from a hold rating to a sell rating in a research report released on Tuesday morning.
According to Zacks, “Achaogen, Inc. is a clinical-stage biopharmaceutical company. It is focused on the discovery, development, and commercialization of novel antibacterials to treat multi-drug resistant, or MDR, gram-negative infections. The Company is developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections due to MDR enterobacteriaceae, including carbapenem-resistant enterobacteriaceae. Achaogen, Inc. is headquartered in South San Francisco, California. “
Other equities analysts have also recently issued research reports about the stock. SunTrust Banks lowered their target price on shares of Achaogen to $27.00 and set a buy rating on the stock in a research note on Wednesday, January 3rd. ValuEngine raised shares of Achaogen from a sell rating to a hold rating in a research note on Sunday, December 31st. Mizuho reissued a buy rating and set a $28.00 target price on shares of Achaogen in a research note on Wednesday, January 3rd. HC Wainwright reissued a buy rating and set a $25.00 target price on shares of Achaogen in a research note on Thursday, November 9th. Finally, Stifel Nicolaus lowered their target price on shares of Achaogen from $30.00 to $27.00 and set a buy rating on the stock in a research note on Thursday, November 9th. Two analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $25.62.
Achaogen (NASDAQ AKAO) traded up $0.51 during mid-day trading on Tuesday, hitting $11.66. 1,151,804 shares of the company were exchanged, compared to its average volume of 1,938,786. The company has a debt-to-equity ratio of 0.08, a quick ratio of 6.99 and a current ratio of 6.99. Achaogen has a 1-year low of $10.24 and a 1-year high of $27.79. The firm has a market cap of $494.31, a PE ratio of -3.47 and a beta of 1.35.
Achaogen (NASDAQ:AKAO) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported ($0.85) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.72) by ($0.13). Achaogen had a negative return on equity of 80.44% and a negative net margin of 593.61%. The firm had revenue of $0.58 million during the quarter, compared to analyst estimates of $2.09 million. During the same period last year, the business earned ($0.41) EPS. The firm’s revenue was down 96.4% on a year-over-year basis. analysts expect that Achaogen will post -3.06 earnings per share for the current fiscal year.
In other news, major shareholder Robert W. Duggan bought 15,000 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was bought at an average cost of $10.89 per share, for a total transaction of $163,350.00. Following the completion of the acquisition, the insider now directly owns 5,617,752 shares in the company, valued at approximately $61,177,319.28. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Robert W. Duggan bought 50,000 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was purchased at an average price of $11.51 per share, with a total value of $575,500.00. Following the completion of the acquisition, the insider now owns 5,617,752 shares of the company’s stock, valued at $64,660,325.52. The disclosure for this purchase can be found here. Insiders bought a total of 160,012 shares of company stock worth $1,796,334 in the last ninety days. Corporate insiders own 8.36% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Legal & General Group Plc acquired a new position in shares of Achaogen in the second quarter worth about $168,000. Ardsley Advisory Partners acquired a new stake in shares of Achaogen during the second quarter worth approximately $217,000. JPMorgan Chase & Co. boosted its holdings in shares of Achaogen by 691.2% during the second quarter. JPMorgan Chase & Co. now owns 11,077 shares of the biopharmaceutical company’s stock worth $240,000 after purchasing an additional 9,677 shares during the period. California Public Employees Retirement System acquired a new stake in shares of Achaogen during the second quarter worth approximately $243,000. Finally, Voya Investment Management LLC acquired a new stake in shares of Achaogen during the second quarter worth approximately $295,000. Institutional investors own 85.74% of the company’s stock.
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Achaogen, Inc is a late-stage biopharmaceutical company. The Company is engaged in the discovery, development and commercialization of antibacterial treatments against multi-drug resistant (MDR) gram-negative infections. The Company is involved in researching and developing plazomicin, its lead product candidate, for the treatment of serious bacterial infections, including complicated urinary tract infection (cUTI), blood stream infections and other infections due to MDR Enterobacteriaceae, including carbapenem-resistant Enterobacteriaceae (CRE).
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